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ECB’s de Guindos: Germany blocks UniCredit deal, undermines EU union

5/14/2026

Summary

Story summary

ECB Vice-President Luis de Guindos argued that Germany's opposition to UniCredit's bid clashes with the EU's savings-and-investment union objectives.
He criticized Berlin's stance against UniCredit's hostile takeover attempt of Commerzbank in Germany.
He said the German banking sector is very fragmented and needs modernization to meet major economic challenges.
He warned that such initiatives undermine the single market and the credibility of the savings-and-investment union.

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Story summary

ECB Vice-President Luis de Guindos argued that Germany's opposition to UniCredit's bid clashes with the EU's savings-and-investment union objectives.
He criticized Berlin's stance against UniCredit's hostile takeover attempt of Commerzbank in Germany.
He said the German banking sector is very fragmented and needs modernization to meet major economic challenges.
He warned that such initiatives undermine the single market and the credibility of the savings-and-investment union.